Shares of Adobe Systems Incorporated (NASDAQ:ADBE) have been assigned an average recommendation of “Buy” from the thirty-four ratings firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation, twenty-five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $154.09.

ADBE has been the topic of a number of analyst reports. Vetr downgraded Adobe Systems from a “strong-buy” rating to a “buy” rating and set a $157.24 price target on the stock. in a research note on Tuesday, June 20th. Canaccord Genuity restated a “buy” rating and issued a $165.00 price target (up from $145.00) on shares of Adobe Systems in a research note on Wednesday, June 21st. BidaskClub upgraded Adobe Systems from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th. Royal Bank Of Canada restated a “buy” rating and issued a $157.00 price target on shares of Adobe Systems in a research note on Monday, July 31st. Finally, BMO Capital Markets restated an “outperform” rating on shares of Adobe Systems in a research note on Tuesday.

In other Adobe Systems news, Director John E. Warnock sold 32,600 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $144.07, for a total transaction of $4,696,682.00. Following the sale, the director now owns 16,088 shares in the company, valued at $2,317,798.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ann Lewnes sold 1,953 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $155.88, for a total value of $304,433.64. Following the sale, the executive vice president now owns 56,356 shares in the company, valued at approximately $8,784,773.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,959 shares of company stock worth $14,870,874. Insiders own 0.38% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in ADBE. W. E. Donoghue & Co. LLC acquired a new stake in shares of Adobe Systems during the 2nd quarter worth approximately $2,318,000. Intl Fcstone Inc. acquired a new stake in shares of Adobe Systems during the 2nd quarter worth approximately $305,000. USA Financial Portformulas Corp acquired a new stake in shares of Adobe Systems during the 2nd quarter worth approximately $6,210,000. WFG Advisors LP raised its position in shares of Adobe Systems by 5.9% during the 2nd quarter. WFG Advisors LP now owns 1,338 shares of the software company’s stock worth $189,000 after purchasing an additional 75 shares during the period. Finally, Toronto Dominion Bank raised its position in shares of Adobe Systems by 25.2% during the 2nd quarter. Toronto Dominion Bank now owns 167,867 shares of the software company’s stock worth $23,739,000 after purchasing an additional 33,814 shares during the period. Hedge funds and other institutional investors own 87.53% of the company’s stock.

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Shares of Adobe Systems (NASDAQ:ADBE) traded down 0.319% on Tuesday, hitting $154.455. The stock had a trading volume of 1,890,223 shares. The firm’s 50-day moving average is $150.82 and its 200-day moving average is $139.09. Adobe Systems has a one year low of $98.00 and a one year high of $157.89. The company has a market cap of $76.21 billion, a price-to-earnings ratio of 53.798 and a beta of 1.00.

Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings results on Tuesday, June 20th. The software company reported $1.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.07. Adobe Systems had a return on equity of 20.06% and a net margin of 22.11%. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the business earned $0.71 earnings per share. The company’s revenue for the quarter was up 26.7% compared to the same quarter last year. On average, analysts expect that Adobe Systems will post $4.06 EPS for the current fiscal year.

About Adobe Systems

Adobe Systems Incorporated is a software company. The Company offers products and services used by professionals, marketers, knowledge workers, application developers, enterprises and consumers for creating, managing, delivering, measuring, optimizing and engaging with compelling content and experiences.